What are the differences in the types of loans?

Loan Products
HomeAmerican offers over 100 different loan products. The following is a quick overview of the different categories of products we offer. Please speak with one of our qualified Loan Officers to determine which program best suits your needs.

Conventional Financing
Standard loan programs designed to meet the needs of a variety of different borrowers.

Programs

Benefits

Fixed Rate Mortgage

Monthly payments are fixed over the life of the loan

Interest rate does not change

Stable Loan

Best value if you are thinking long term homeownership

Available in 15-or 30-year terms

Adjustable Rate Mortgages

Lower initial monthly payment

Lower payment over a shorter period of time

May qualify for a higher loan amount

Best value if you are thinking short term homeownership

Government Financing

The U.S. Department of Housing and Urban Development through the Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) offer government-insured loans. Ideal for the first-time home buyer, these loans have features that make purchasing a new home easier.